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Life Insurance Information
Stonewall Insurance Agency will provide options that are unique to your insurance coverage needs. Life insurance is a necessary protection for your family's future well being. Our agents will take the time to provide you with the right policy at the most affordable price. Life insurance is a gift you leave your family. It’s your last opportunity to take care of them when you’re no longer able to do so yourself. Shopping around for life insurance, however, can be a complicated process. . Let us do the work for you!
It helps to talk with a live, independent agent rather than receiving some anonymous search engine that spits out prices along with a few highly technical terms that don’t explain the different values various insurance options represent.
Let’s look at the two most common types of life insurance.
Term Life Insurance
For the average person between the ages of 25 and 50, this will be sensible solution. It provides the largest amount of coverage for the lowest price. The policy offers a set price for the agreed upon coverage amount for a specific period of time (thus the name “term” life insurance).
Terms typically run between 1 to 30 years in length and if the policy holder dies in that time frame, the entire value of the policy goes to the beneficiaries.
The price is often lower than whole life insurance at this stage in life but your costs will increase when each subsequent term expires. As you age, the costs can increase substantially depending on the condition of your health and the type of lifestyle you lead.
Whole Life Insurance
The younger you invest in a whole life insurance policy, the better. The prices are low for young people who take out this type of insurance coverage and as long as you maintain continuous coverage, the price will never increase.
Whole life insurance allows the policy holder to build cash value which can be accessed later in time. This type of policy allows you to borrow money, interest free, to pay for whatever you like. Generally, these premiums are higher than with a term life policy but the costs of a whole life policy never increase as you get older.
Senior Life Insurance
Another policy that’s gaining some degree of traction in recent years is known as the senior life policy. This policy allows aging seniors to cover the costs of their burial expenses and other funeral fees or to help pay off a few lingering bills. It’s a small comfort they can leave their families after they’re gone.
The good news is that they can’t be turned down for these policies regardless of age or health. The costs of these policies are also relatively affordable for seniors who often have limited means.
Before you invest in life insurance for yourself or members of your family, it’s a good idea to consult with an independent life insurance agent.
Why Do You Need Life Insurance?
This is a common question asked, especially since no one really wants to think about their own death. However, no matter what your age, life insurance policies at the very least will pay for your funeral expenses.
If you have a family, own a home or have outstanding credit card debt, a larger life insurance policy will guarantee that your family will have enough money to live, your mortgage will get paid and your debts won’t go into collection after your death. This money is intended to help you meet your financial needs should you die.
There are also ways you can use your life insurance policy as a means for saving for retirement. Annuities can provide an income during your retirement years and bundled products build up cash value over time. Part of your premiums for bundled products will pay for your insurance coverage but the remainder is invested, so there is some risk. However, this money is paid out when the policy matures or is surrendered.
Stonewall Insurance Agency is here to answer any questions you may have about whether or not you need life insurance and how much coverage you need if you do. We can even help you compare costs to find the best policy at the right price for you.
CALL US NOW AT (770)-996-1333
to discuss coverage details, get a quote, buy a policy, or schedule a visit directly over the phone. You can also contact us via email at Service@stonewallagency.com!